General Discussion
In reply to the discussion: USPS versus Republicans lies... [View all]red dog 1
(33,410 posts)Re: "USPS is not losing money"
According to the U.S. Government Accountability Office's 2017 report titled:
"Restructuring the U.S. Postal Service to Achieve Sustainable Liability"
"The U.S. Postal Service faces a serious financial situation that is putting it's mission of providing prompt, reliable, and efficient universal mail services at risk.
It reported a net loss of $5.6 billion in fiscal year 2016 - it's 10th consecutive year of net loses.
Additionally, it continues to face unfunded liabilities - totaling about $121 billion at the end of fiscal year 2016.
These unfunded liabilities consist mostly of retiree health and pension benefit obligations for which USPS has not set aside sufficient funds to cover."
View entire 2017 GAO report:
https://www.gao.gov/highrisk/restructuring_postal/why_did_study